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AMP unveils new operating structure for financial advice biz

AMP Ltd. unveiled a new operating structure for its financial advice business and made several leadership changes.

The company said March 31 that it will integrate AMP Financial Planning, AMP Advice, AMP Horizons and AMP Direct into a single unit. Newly appointed Managing Director Michael Paff will lead the integrated unit.

Meanwhile, Michael Guggenheimer was appointed executive director of advice. He will be responsible for setting up the licensee boards and continuing the company's focus on quality governance.

The company will establish a dedicated governance function and independent boards for each licensee. A new channel strategy and services team will also be set up to focus on simplifying processes for advisers. The team will be led by Dave Akers as director.

In addition, Dean Thomas and Neil Swindells were named managing directors of Hillross and Charter Financial Planning, respectively, while Chris Digby was appointed managing director of SMSF Advice and Jigsaw.